New York Life Investment Management LLC Has $10.32 Million Holdings in AltShares Merger Arbitrage ETF (NYSEARCA:ARB)

New York Life Investment Management LLC grew its position in AltShares Merger Arbitrage ETF (NYSEARCA:ARB) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 385,861 shares of the company’s stock after purchasing an additional 43,300 shares during the period. New York Life Investment Management LLC owned about 13.73% of AltShares Merger Arbitrage ETF worth $10,322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARB. HighTower Advisors LLC raised its stake in AltShares Merger Arbitrage ETF by 4.9% in the third quarter. HighTower Advisors LLC now owns 85,095 shares of the company’s stock valued at $2,215,000 after buying an additional 4,004 shares during the period. Advisors Preferred LLC bought a new stake in shares of AltShares Merger Arbitrage ETF during the 3rd quarter valued at $111,000. Finally, PFG Advisors increased its holdings in AltShares Merger Arbitrage ETF by 17.9% in the 4th quarter. PFG Advisors now owns 23,460 shares of the company’s stock valued at $628,000 after buying an additional 3,570 shares during the period.

AltShares Merger Arbitrage ETF Stock Performance

Shares of ARB stock opened at $26.69 on Thursday. AltShares Merger Arbitrage ETF has a fifty-two week low of $24.64 and a fifty-two week high of $27.24. The stock’s fifty day moving average price is $26.97 and its two-hundred day moving average price is $26.70. The company has a market cap of $73.65 million, a PE ratio of 17.48 and a beta of 0.07.

AltShares Merger Arbitrage ETF Profile

The AltShares Merger Arbitrage ETF (ARB) is an exchange-traded fund that mostly invests in long\u002Fshort alternatives. The fund tracks a global USD-hedged index that uses a merger arbitrage strategy by providing long exposure to takeover targets and short exposure the acquiring company. ARB was launched on May 7, 2020 and is managed by Altshares.